2. Learning outcomes Understand how to prepare for business
Own strengths & weaknesses
Contributing to a business
Benefits of running a business
Know how different aspects affect preparation for business
Regulations and laws for small businesses
Marketing and sales
Financial issues
Understand how to start and run a business
Business Plan
Starting and running a business
Advice and support

3. The tasks

4. Your own strengths and weaknesses
When you discuss your future plans with a careers adviser, you will probably talk about subjects you like and how these link with different jobs:
What you might not discuss are things such as:
Size and type of organisation
Whether you want predictable and routine tasks or not
Travel
Team/independent work

5. Your own strengths and weaknesses
Different people are suited to different types of employment
The aim of this lesson is to look at the personal skills and attitude needed to start and run a small business.
You will have the opportunity to think about your own talents and how suited you may be to this type of work.

6. Aptitude test

7. My Score

8. How did you score?
Score
Analysis
8-10
You seem to have most of the qualities needed to run a small business. You may have to address a few areas of weakness.
4-7
You have some of the qualities necessary to run a small business but there are several areas of weakness which you need to consider
1-3
You do not have many of the qualities needed to run a small business. If you attempted to do so you would have to change considerably and would probably need a lot of help and support.

9. Factors that affect the small business owner
Long working hours
Financial Insecurity

10. Long working hours...
For most employees, the Working Time Regulations limit employees to working no more than 48 hours a week
This rule does not apply if you are self employed
Less time to spend with friends and family

11. Financial Insecurity Running any business involves risk
There may be little money spare for luxuries such as new clothes and holidays
Usually, any profit is put straight back into the business

12. What do you need to set up a small business?
Success
Skills, knowledge & expertise
Time
Money
Space
Ability

13. Case Study: Alastair Lee